Wedbush Believes Chipotle (NYSE: CMG) Won’t Stop Here

By Carrie Williams

Wedbush analyst Nick Setyan maintained a Buy rating on Chipotle (CMGResearch Report) today and set a price target of $1600.00. The company’s shares closed last Wednesday at $1366.66, close to its 52-week high of $1384.46.

According to TipRanks.com, Setyan is a 4-star analyst with an average return of 5.9% and a 57.3% success rate. Setyan covers the Services sector, focusing on stocks such as Papa John’s International, Del Taco Restaurants, and Dine Brands Global.

Chipotle has an analyst consensus of Moderate Buy, with a price target consensus of $1365.68, which is a 1.6% upside from current levels. In a report issued on October 9, Wells Fargo also maintained a Buy rating on the stock with a $1460.00 price target.

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Chipotle’s market cap is currently $37.47B and has a P/E ratio of 149.70. The company has a Price to Book ratio of 22.41.

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Chipotle Mexican Grill, Inc. engages in the development and operation of fast-casual, fresh Mexican food restaurants throughout the U.S. It offers focused menu of burritos, tacos, burrito bowls, and salads prepared using classic cooking methods. The company was founded by Steve Ells in 1993 and is headquartered in Newport Beach, CA.